Codexis (NASDAQ:CDXS) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Codexis, Inc. (NASDAQ:CDXS)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.95 and traded as high as $4.30. Codexis shares last traded at $4.16, with a volume of 487,277 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CDXS shares. Benchmark reissued a “hold” rating on shares of Codexis in a research report on Monday, November 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $11.00 target price on shares of Codexis in a research report on Friday, November 22nd.

Codexis Stock Performance

The company has a current ratio of 3.21, a quick ratio of 3.15 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $338.53 million, a P/E ratio of -4.78 and a beta of 2.12. The business’s 50 day simple moving average is $4.63 and its two-hundred day simple moving average is $3.95.

Institutional Investors Weigh In On Codexis

Several institutional investors and hedge funds have recently made changes to their positions in CDXS. Private Advisor Group LLC increased its position in shares of Codexis by 1.3% during the third quarter. Private Advisor Group LLC now owns 278,699 shares of the biotechnology company’s stock valued at $858,000 after acquiring an additional 3,458 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Codexis by 23.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,103,442 shares of the biotechnology company’s stock worth $3,399,000 after purchasing an additional 209,207 shares during the period. abrdn plc grew its position in Codexis by 62.5% in the 3rd quarter. abrdn plc now owns 800,410 shares of the biotechnology company’s stock worth $2,465,000 after purchasing an additional 307,762 shares during the period. Perkins Capital Management Inc. grew its position in Codexis by 2.8% in the 3rd quarter. Perkins Capital Management Inc. now owns 164,100 shares of the biotechnology company’s stock worth $505,000 after purchasing an additional 4,500 shares during the period. Finally, GSA Capital Partners LLP grew its position in shares of Codexis by 83.5% during the 3rd quarter. GSA Capital Partners LLP now owns 99,629 shares of the biotechnology company’s stock valued at $307,000 after acquiring an additional 45,337 shares during the period. Institutional investors own 78.54% of the company’s stock.

Codexis Company Profile

Codexis, Inc discovers, develops, and sells enzymes and other proteins. The company operates through two segments, Performance Enzymes and Novel Biotherapeutics. It offers biocatalyst products and services. The company also provides biocatalyst screening and protein engineering services. In addition, it offers CodeEvolver, a technology platform, which helps in developing and delivering biocatalysts that perform chemical transformations and enhance the efficiency and productivity of manufacturing processes.